Dreyer’s Grand Ice Cream has announced that its shareholders have approved the US ice cream company’s plans to merge with Nestlé’s ice cream division.
The Federal Trade Commission recently voted to block the deal, which would give Nestlé a 67% stake in the combined company and the largest portion of the US premium ice cream market, reported Dow Jones Business News.
The FTC is currently in negotiations with the two companies and may require that Nestlé divest some of its frozen dessert assets in order for the merger to go ahead.
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